The possibility of a counter-takeover heats up Talgo, which rises 5% on the stock market

The World MADRID

MADRID

Updated Monday, March 25, 2024-18:08

The possibility that the Government shields Talgo against a purchase by the Hungarian group Magyar Vagon has today given wings to the price of the train manufacturer, which closed the session with a rise of 5.54% in the face of a probable alternative by from the Swiss group

Stadler

.

The main shareholder of Talgo, the Trilantic fund - in which the

Abelló

family and some members of the Oriol family (founders of Talgo) participate -, would have contacted Stadler to propose a counter-takeover bid, according to 'El Economista'.

This alternative contrasts with the initial operation of the Hungarians, since

Magyar Vagon is smaller than Talgo, while Stadler is worth up to 5 times more

than the Spanish company on the stock market (it capitalizes about 2.8 billion euros, compared to Talgo's 540 million). .

This alternative contrasts with the initial operation of the Hungarians, since Magyar Vagon is smaller than Talgo, while Stadler is worth up to 5 times more than the Spanish company on the stock market (it capitalizes about 2.8 billion euros, compared to Talgo's 540 million). .

An analysis by Sabadell

confirms Stadler's "financial muscle" to face this operation, although it believes that it is

"unlikely"

that it will go ahead, due to the zero interest that the Swiss company has always shown in Talgo.

Stadler's revenues in 2023 amounted to 3,716 million euros, 4% less than the previous year, with a gross operating result (Ebitda) of 304 million euros, 4% lower, and a net profit of 128 million euros, 84% higher.

Its order book was 25.12 billion euros at the end of last December. It has around 14,000 workers worldwide, of which 1,600 are in the large factory it has in Spain, located in Albuixech (Valencia).

Hungary

For its part, the Hungarian group Ganz-MaVag Europe has offered a

constructive and transparent dialogue

with the Spanish authorities regarding the takeover bid for the manufacturer Talgo that it recently announced, the Hungarian agency MTI reported this Monday.

In a statement sent to that medium, the president of the board of directors of the Magyar company,

György Bacsa

, highlighted that information about the public acquisition offer (takeover bid) of all the capital of the Spanish train manufacturer Talgo has been sent to Spain. which he presented last day 7.

The Spanish Government has warned that Talgo operates in a strategic sector and will remain "vigilant" in the face of the takeover bid.

"We are willing to support the work of the Spanish authorities in every possible way: giving quick, transparent and professional answers to their questions," Bacsa stated in the note.

The Hungarian consortium is open "to a constructive dialogue to achieve a fruitful partnership as soon as possible."